Honest Bank is a pioneering Indonesian fintech company that introduced the country’s first fully digital credit card — designed to provide more inclusive, transparent, and accessible credit for underbanked consumers. Licensed and regulated by OJK (Otoritas Jasa Keuangan) and Bank Indonesia, Honest operates a mobile-first financial platform built on simplified fees, real-time transaction visibility, and frictionless user experience. As a regulated financial institution, Honest requires financial systems that are not only scalable but also fully compliant with Indonesian financial services regulations.
As a regulated fintech operating under OJK and Bank Indonesia oversight, Honest needed an ERP system that could seamlessly integrate with its proprietary core credit card system, produce OJK-compliant financial reports, and maintain accurate historical accounting data going back 5 years. The stakes were high: inaccurate financial data or non-compliant reporting could expose Honest to regulatory risk, making implementation precision a business-critical requirement.
We implemented Oracle NetSuite with a focus on regulatory compliance, deep system integration, and comprehensive historical data management — ensuring Honest’s financial infrastructure meets both operational and regulatory standards.
Oracle NetSuite Modules Implemented :
– Financials Mid-Market Cloud Service
– Financial Management Mid-Market Cloud Service
– Procurement Mid-Market Cloud Service
– Fixed Assets Mid-Market Cloud Service
Customizations & Integration Services :
– Integration with Core Credit Card System to General Ledger (GL) Records
– 5-Year Historical Accounting Balances migration — per period, per account
– Custom Reports designed for FSI Regulation Compliance (OJK)
Honest Bank now operates on a fully compliant, integrated financial platform that connects their core credit card system directly to NetSuite’s General Ledger — eliminating reconciliation risk and ensuring regulatory reporting accuracy. With 5 years of historical accounting data successfully migrated and OJK-specific custom reports in place, Honest’s finance team has complete visibility and confidence in their numbers — freeing them to focus on growing Indonesia’s most accessible digital credit product.
